Advertisements Strong net flows into bitcoin exchange-traded funds indicate robust institutional demand as BTC dominance rises at the expense of ether, one trader noted. Bitcoin (BTC) markets saw profit-taking over the past 24 hours after a strong week in which the largest cryptocurrency posted a seven-day gain of almost 8%. BTC fell as much asContinue reading “Bitcoin Prices Take Breather as BTC ETFs Record Another Day of Monster Inflows”
Category Archives: Finance
As BIS Mulls Shutting Down mBridge, Its Innovation Hub Calls The Project a ‘Public Good’
Advertisements Putin’s interest in an alternative international payments system has focused attention on mBridge. The future of the Swiss-based Bank for International Settlements’ (BIS) involvement in mBridge was cast into doubt on Oct 28. following a report from Bloomberg that top bank officials and financial executives discussed the possibility of shutting mBridge down during aContinue reading “As BIS Mulls Shutting Down mBridge, Its Innovation Hub Calls The Project a ‘Public Good’”
DeFi Cover Provider Nexus Mutual Backs New Crypto Insurance Broker Native
Advertisements Nexus Mutual is also behind a new insurance alternative on Coinbase’s L2 network called Base DeFi Pass. Nexus Mutual, the decentralized alternative to traditional insurance geared towards risks involving digital assets, is widening its distribution capabilities by backing a dedicated crypto insurance broker called Native. Native goes live with $2.6 million of seed fundingContinue reading “DeFi Cover Provider Nexus Mutual Backs New Crypto Insurance Broker Native”
MicroStrategy’s Current Premium Relative to Its Bitcoin Stack Is Unlikely to Last: Steno Research
Advertisements The launch of options on spot bitcoin exchange-traded funds in the U.S. will reduce the incentives for investors to hold MicroStrategy stock over these ETFs, the report said. MicroStrategy’s (MSTR) current premium relative to its bitcoin (BTC) stack is unlikely to last, Steno Research said in a report Friday. “This conviction is reinforced byContinue reading “MicroStrategy’s Current Premium Relative to Its Bitcoin Stack Is Unlikely to Last: Steno Research”
Arthur Hayes’ Maelstrom Hedges U.S. Election Uncertainty With Staked USDe; Holds Large BTC, ETH Bullish Bets
Advertisements “Given the uncertainty, Maelstrom has 5% of the fund in staked USDe (Ethena USD), earning roughly 13%,” Hayes told CoinDesk. With the U.S. election just a week away, markets are waiting with bated breath for the political event that has created “high uncertainty.” Arthur Hayes, chief investment officer at digital asset investment fund MaelstromContinue reading “Arthur Hayes’ Maelstrom Hedges U.S. Election Uncertainty With Staked USDe; Holds Large BTC, ETH Bullish Bets”
MicroStrategy Touches New Highs as Trading Volume Relative to Nvidia Surges
Advertisements MicroStrategy is up over 240% year-to-date with the NAV premium approaching 3. Bitcoin (BTC)-holder MicroStrategy’s (MSTR) soaring stock is driving up trading volumes relative to AI-proxy Nvidia (NVDA), one of the biggest companies by market cap, reflecting heightened investor enthusiasm. MSTR has surged over 240% this year, with prices doubling to $236 in theContinue reading “MicroStrategy Touches New Highs as Trading Volume Relative to Nvidia Surges”
Bitcoin Trader Warns of Correction as BTC Dominance Reaches 2021 Levels; Solana Leads Market Gains
Advertisements Dominance refers to the ratio between the market capitalization of BTC to the total market capitalization of all cryptocurrencies combined and is often used as a gauge for market sentiment. PLUS: Some Solana tokens are up as much as 70%. Solana’s SOL and ecosystem memecoins, such as popcat (POPCAT), led crypto market gains onContinue reading “Bitcoin Trader Warns of Correction as BTC Dominance Reaches 2021 Levels; Solana Leads Market Gains”
Institution Takes $25M Hedge Bet on Derive’s Bitcoin Options Market as U.S. Election Looms
Advertisements The strategy will profit most if BTC rises to $80,000 by the end of November. As the U.S. election nears, increased betting and hedging tied to the political event, is powering notable increases in trading volumes in the crypto market. The election will have far-reaching consequences for the crypto regulatory space in the world’sContinue reading “Institution Takes $25M Hedge Bet on Derive’s Bitcoin Options Market as U.S. Election Looms”
MakerDAO Contemplates Dropping Sky Brand as Community Debates
Advertisements SKY has significantly underperformed the CoinDesk 20 index, since the re-brand. MakerDAO is contemplating dropping the Sky brand after a lukewarm reception to the re-brand and a successful launch of the USDS stablecoin. The USDS stablecoin, launched in August, is designed to offer native token rewards and operate alongside the existing DAI synthetic stablecoin,Continue reading “MakerDAO Contemplates Dropping Sky Brand as Community Debates”
Bitcoin Is Going to $80K Regardless of Trump or Harris Win, Traders Say
Advertisements There are skewed expectations of a Republican win as better for bitcoin. However, some say the asset is poised to go higher either way as several macroeconomic factors weigh in. Bitcoin (BTC) may cross previous highs in the coming weeks regardless of which candidate becomes the U.S. president, some traders say, in a shiftContinue reading “Bitcoin Is Going to $80K Regardless of Trump or Harris Win, Traders Say”
Stripe in $1.1B Acquisition Deal for Stablecoin Platform Bridge: Report
Advertisements Bridge, which has raised $54 million in funding, previously said it aspired to become the blockchain version of Stripe, operating a global system in which other developers could integrate Looking to advance its cryptocurrency ambitions, payments processor Stripe has finalized a deal to buy stablecoin platform Bridge for $1.1 billion, according to a SundayContinue reading “Stripe in $1.1B Acquisition Deal for Stablecoin Platform Bridge: Report”
Sui Launches ‘Incubator’ Hub in Dubai for ‘On the Spot’ Solution Engineering
Advertisements The hub is in collaboration with Ghaf Group, a blockchain firm in the region. Dubai – The Sui blockchain has launched a hub in Dubai which will act as an incubator for blockchain developers and entrepreneurs, one of its founding developers told CoinDesk in an interview. Kostas Chalkias, co-founder and chief cryptographer at MystenContinue reading “Sui Launches ‘Incubator’ Hub in Dubai for ‘On the Spot’ Solution Engineering”
Coinbase Says Bitcoin Liquidity on Exchange Unfazed After SEC’s Lawsuit Against Cumberland
Advertisements Paris-based Kaiko pointed to a notable drop in 2% BTC market depth on Coinbase in a report early this week. Trading conditions on Coinbase (COIN) remain stable, the Nasdaq-listed cryptocurrency exchange said on Tuesday, downplaying reports of a notable drop in the bitcoin (BTC) order book liquidity amid the U.S. SEC’s lawsuit against marketContinue reading “Coinbase Says Bitcoin Liquidity on Exchange Unfazed After SEC’s Lawsuit Against Cumberland”
CME’s Bitcoin Friday Futures Are Ideal for News Traders: CF Benchmarks
Advertisements Friday contracts debuted on Sept. 30 with a bang, becoming CME’s most successful crypto futures launch ever. Chicago Mercantile Exchange’s (CME) bitcoin (BTC) futures that expire on Friday are ideally suited for news traders looking to bet on key U.S. economic data releases, CF Benchmarks’ CEO Sui Chung said, explaining the performance of theContinue reading “CME’s Bitcoin Friday Futures Are Ideal for News Traders: CF Benchmarks”
Bitcoin ETF Daily Inflow Hits $556M as BTC Appears Primed for Breakout
Advertisements Weekly inflows might challenge records as technical pointers suggest a BTC rally in the works. Bitcoin (BTC) exchange-traded funds (ETFs) posted inflows of $555.86 million on Monday, according to data provider SoSoValue, amid signs of a possible bitcoin rally. This is a multi-month record for ETF inflows, as the last time the asset classContinue reading “Bitcoin ETF Daily Inflow Hits $556M as BTC Appears Primed for Breakout”